Europe will lead the global CO2 negative cement market in terms of revenue and volume. The market growth in this region is driven by demand for sustainable products and the presence of large-scale infrastructure R&D firms.

Commercial applications will lead the market by size and growth, with an estimated 2023 value of $17.2 million and a CAGR of 27.2%. Residential applications will see a CAGR of 27.0% and marine infrastructure will see a CAGR of 26.4%.

“The use of negative CO2 in buildings enhances the utility of materials that have the ability to store atmospheric carbon in the fabric of the building, while reducing the use of fossil fuel energy throughout the supply chain and in the process of construction,” said BCC Research analyst and report author Tanmay Joshi. “Negative CO2 buildings are constructed and managed in such a way that reduces the emissions extracted from the greenhouse gases during their life cycle, which spans their construction and eventual demolition. The negative CO2 cement makes the building structure airtight, resilient, durable, low-maintenance and weather-resistant. Negative CO2 cement also incorporates a high amount of insulation. All these factors are responsible for the increased worldwide use of negative CO2 cement.”

Governments Investing in Product Innovation

Governments around the world are investing in negative CO2 cements, the report adds. IronKast, for example, has received $200,000 from the U.S. Environmental Protection Agency, and banahCEM has received $6.6 million to develop a manufacturing plant in Northern Ireland. The European Union and Australia have also been the locations of pilot and experimental projects.

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